December 17, 2015 - India ITR

Initiatives of Central Board of Excise and Customs to Facilitate Trade and to Resolve Disputes

Misc. ItemsBy Himanshi December 17, 2015

The Central Board of Excise and Customs, Department of Revenue, Ministry of Finance, Government of India has taken a number of initiatives to facilitate trade and to resolve disputes. A slew of measures were taken to enable effective and speedy dispute resolution and to facilitate the trade and industry. Some of the important initiatives are: (1)…

Furnishing of information in respect of payments made to the non-resident w.e.f. 1st Apr-2016

Income Tax, Income Tax Circulars/ NotificationBy Himanshi December 17, 2015

Section 195 of the Income-tax Act (‘the Act’)empowers the Central Board of Direct Taxes to capture information in respect of payments made to non-residents, whether chargeable to tax or not. Rule 37 BB of the Income-tax Rules has been amended to strike a balance between reducing the burden of compliance and collection of information under…